Background and Challenge
Our client, a leading offshore EPCI contractor, wanted to understand the market and commercial outlook for the global subsea, umbilical, riser and flowline (SURF) industry. Specifically, we were tasked to conclude whether substantial new vessel additions would put pressure on sector profitability and recommend vessel specifications based on regional and technical opportunities.
Approach and Recommendations
DW’s analysis consisted of the following key outputs:
- DW provided a ten-year demand outlook for subsea equipment and subsequent vessel requirements on a “customer by customer” approach. Demand was also split down to individual fields/projects to allow the client to calculate and project their own market share.
- Regional supply/demand outlook for a range of subsea vessel types such as DSVs, flex layers and reel layers.
- Detailed review of the supply chain, new entrants into the SURF market and the reasons behind their success.
- Review of new technical trends in subsea equipment and installation methods that may impact the status quo of the market.
Result
The analysis/recommendations were presented by our clients to their management to directly input into group strategy regarding regional market focus and potential newbuild programmes.